ABSTRACT

Part 3 (Chapters 13–15) of Volume III fully presents Marx's analysis that aims to show that the rate of profit tends to fall as a result of capitalist accumulation itself. This is a core element in Marxist crisis theory that makes tangible how capitalism bears fatal inner contradictions that must eventually lead to its own downfall. It is also a topic that has an obvious urgency in relation to current events and debates. In his scheme for the continuation of Capital, Marx planned to deal with crises much later, after having first investigated not only trade, banks and landowning (which is here presented in the next chapter) but also classes, the state, foreign trade and the world market. As these sections were never written, a brief treatment of crises will be made here in conjunction with the analysis of profit, since there is a connection between those topics, but also incorporating elements from Volume I and from Grundrisse.